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A Primer For Finance Professionals- Blockchain

Wed, 2017-09-06 12:02
Blockchain technology has created waves around the World, bringing transparency and massively reducing costs in sectors like Banking, Finance, Logistics and Manufacturing, among others. And this is only the beginning... What is blockchain? And what are the potential implications for finance? Great primer What is blockchain? A primer for finance professionals
Categories: APPS Blogs

ASC 606 and IFRS 15 Revenue Recognition automation

Fri, 2017-09-01 12:11
Do you know , there have been multiple acquisitions and announcements in the revenue recognition space as IT vendors ensure that they can support the ASC 606 standard including: Intacct’s May 2016 announcement as the first automated ASC 606 solution Zuora’s May 10th, 2017 acquisition of Leeyo CallidusCloud’s May 24th, 2017 acquisition of RevSym Aptitude […]
Categories: APPS Blogs

ASC 606 & IFRS 15: Revenue from Contracts with Customers

Sun, 2017-07-09 02:44
As we all know, on May 28, 2014, the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) together issued a converged standard about recognition of revenue from contracts with customers. Known as ASC 606, Revenue from Contracts with Customers, the standard will improve the financial reporting of revenue and improve comparability […]
Categories: APPS Blogs

ASC 606/IFRS 15 & Oracle’s Revenue Management Cloud Service (RMCS)

Sun, 2017-06-11 06:13
As we know , the entire accounting approach to revenue recognition is undergoing a wholesale re-write. Rather than relying on using a deferred revenue account, you will need to identify and account for performance obligations. WHAT CHANGES ARE BEING INTRODUCED? Revenue recognition is taking a more scenario and rules based approach to what can be […]
Categories: APPS Blogs

Revenue Standard : effective dates for reporting using the new accounting standards

Sun, 2017-06-11 04:09
Q :What are the effective dates for reporting using the new accounting standards A : The expected effective dates are For public entities, the effective date starts with reporting periods beginning on or after December 15,2017. Fornonpublic entities, the effective date will be deferred for one year to annual reporting periods beginning after December 15, […]
Categories: APPS Blogs

Balance sheet Basics

Fri, 2017-06-09 00:47
To undestand this take a example from Individual to Business. If you want to consider your own financial situation ,then three things you will consider : How much is owns How much is owes and, these two makes how much is your net worth. net worth =owns - owes or owns =owes +net worth So […]
Categories: APPS Blogs

Revenue recognition transition adoption Options- Full or modified retrospective?

Wed, 2017-05-10 12:13
The deadline for adoption of the new revenue recognition standards under ASC606 is fast approaching. Public companies need to adopt for fiscal years beginning in 2018 while private companies have until 2019. The changes in how to account for software and services can be significant, often requiring the break out of underlying performance elements that […]
Categories: APPS Blogs

Revenue Standard : Approach to transition to the new standard

Tue, 2017-05-09 04:36
Question : Is there an approach to transition to the new accounting standard? A: The standard states that the methods to transition to the new standards are as follows: Entities are permitted to apply the new revenue standard either retrospectively subject to some practical expedients (that is, to restate prior periods for a consistent basis […]
Categories: APPS Blogs

ASC 606 ) Step5 :Recognize revenue as performance obligations are satisfied

Thu, 2017-05-04 23:58
The underlying principle of the new standard is that an entity will recognize revenue to depict the transfer of goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. The standard consists of a five-step approach as follows: Fig : 5 steps […]
Categories: APPS Blogs

Ten Signs Your Boss Sees You As A Threat

Thu, 2017-03-09 10:17
Every person has a gift, or an ability that sets them apart from the crowd. Good managers recognize this and try to use it to their advantage. Great managers try to surround themselves with talent...they recognize that with that much talent in their corner, they can't fail. Bad managers feel threatened and try to discredit […]
Categories: APPS Blogs

Printing Barcode tag from Oracle Applications

Sat, 2016-12-10 17:53
Healthcare is treated as one of the asset intensive industry. In healthcare/life science there are processes for fixed assets that requires that barcode tags bearing globally unique numbers be affixed to all tangible assets listed as on the Fixed Asset register. Normally companies prefer to have asset tag printed from the system on pre-printed stationary […]
Categories: APPS Blogs

Oracle Student Cloud’s aka Oracle CX for Higher Education

Sat, 2016-10-29 06:53
Oracle Student Cloud’s new Oracle CX for Higher Education uses Oracle’s intuitive mobile technology to help recruiters boost their pipeline by targeting and qualifying best-fit prospects via social, email, and SMS CRM capabilities. Oracle Student Recruiting Cloud’s embedded analytics also help improve forecasting and monitor and optimize recruiters’ performance in their territories. Student Engagement broadly […]
Categories: APPS Blogs

Oracle Buys NetSuite

Mon, 2016-08-01 11:26
Oracle set the ball rolling with Netsuite acquisition. Oracle OpenWorld Keynote—Cloud Innovation, Mike Hurd (Oracle CEO) predicted that by year 2025 - "Two software-as-a-service (SaaS) suite providers will have 80 percent of the cloud enterprise application market. I volunteer us to be one of them Everything came full circle with NetSuite last week, when Oracle […]
Categories: APPS Blogs

Positive Pay Implementation – Step by Step Guide

Tue, 2016-07-26 10:27
Now that you know what Positive Pay is, you need to find out how to start using Positive Pay. First, we need to start by saying that EVERY bank handles Positive Pay differently. The steps/outline presented here are just a representation of what the most common implementation procedure could look like. 1. Contact your bank […]
Categories: APPS Blogs

Understanding Positive Pay

Mon, 2016-07-25 10:36
Positive Pay can best be described as a fraud prevention program or tool. Technology has increasingly facilitated the ability of criminals to create counterfeit checks and false identification that can be used to engage in fraudulent check activities. As a result, companies must adopt practices to protect against check fraud. Positive pay can provide this […]
Categories: APPS Blogs

Release 12.2.5 AR Enhacement : Apply Receipts Automatically based on Match Score and Knapsack Method

Sat, 2016-07-23 09:30
This is one of R12.2.5 Enhancement in EBS AR. The Automatic Cash Application improves accuracy and on-time application of cash receipts with the introduction of two new methods for automatically applying cash receipts. The first method generates match scores using the Levenshtein distance algorithm and automatically applies the receipt based on a score threshold. The […]
Categories: APPS Blogs

Oracle Data Relationship Management Analytics

Sat, 2016-07-23 06:07
The following Patch Set Updates have been released Recently for Oracle Data Relationship Management 11.1.2.4.341. Patch 23236297 - PATCH SET UPDATE: ORACLE DATA RELATIONSHIP MANAGEMENT - 11.1.2.4.341 Patch 23750023 - PATCH SET UPDATE: DATA RELATIONSHIP MANAGEMENT ANALYTICS - 11.1.2.4.341 Oracle Data Relationship Management Analytics is a capstone dashboard and reporting application that draws upon the […]
Categories: APPS Blogs

Its all about DRG(Data Relationship Governance)

Fri, 2016-07-22 10:47
You know, Oracle Data Relationship Management (DRM) is a web-based user-friendly platform for users to manage enterprise dimensions. The application provides many features such as SOX-compliant auditing, powerful and highly customizable business rule enforcement, versioning capabilities for storing historical views of dimensions, and multiple integration formats. Within DRM , DRG adds configurable, collaborative workflow to […]
Categories: APPS Blogs

Data governance

Fri, 2016-07-22 10:25
Data governance is not a technology or a system but a set of processes and the organizational structure that governs the usage of all data assets of an enterprise. Data governance represents the convergence of data quality, data management, data policies,business process management, and risk management surrounding the handling of information as an asset within […]
Categories: APPS Blogs

ALL IN WITH DATA RELATIONSHIP MANAGEMENT (DRM) TOOL?

Thu, 2016-07-21 06:18
Oracle Data Relationship Management (DRM) is an enterprise change management solution for building and retaining consistency within master data assets despite endless changes necessary to support underlying transactional and analytical systems. The Oracle Data Relationship Management (DRM) Suite is an integrated solution that helps enterprises master, govern and analyze enterprise dimensions, hierarchies and related attributes […]
Categories: APPS Blogs

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